Arrow Financial Corporation (NASDAQ:AROW) Announces $0.30 Quarterly Dividend

Key Points

• $0.30 quarterly dividend announced, payable May 26 to shareholders of record on May 12, with an annualized yield of 3.3% and an ex-dividend date of May 12.
• Arrow reported quarterly EPS of $0.85, beating estimates of $0.79, and posted a net margin of 18.12% and a return on equity of 10.77%.
• The company has raised its dividend for seven consecutive years and carries a 41.1% payout ratio, suggesting the dividend is well covered by earnings.

Arrow Financial Corporation (NASDAQ:AROW - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Investors of record on Tuesday, May 12th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, May 26th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, May 12th.

Arrow Financial has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Arrow Financial has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings.

Arrow Financial Stock Up 2.2%

NASDAQ AROW traded up $0.79 during trading on Thursday, reaching $36.85. The company's stock had a trading volume of 52,699 shares, compared to its average volume of 91,191. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $609.02 million, a PE ratio of 13.91 and a beta of 0.78. The business has a 50-day moving average price of $34.38 and a 200-day moving average price of $32.37. Arrow Financial has a 1-year low of $23.36 and a 1-year high of $38.09.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. Arrow Financial had a net margin of 18.12% and a return on equity of 10.77%.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.

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